If you are looking to buy a new construction condo in Miami there are a lot of questions you should ask yourself before you purchase. Below we discuss 10 questions to ask yourself before you invest in a new construction condo in Miami
1. New Construction Condos in Miami Independent views
Firstly, we have carefully and methodically analyzed ALL new construction condos in Miami. We have analyzed these projects and include all the information you will need to understand them: fact sheets, floor plans, and pictures. Secondly, we have then compared and contrasted the overall Condo to each other, both at the county and local neighborhood level. We ranked these Condos in our Top 10 list and our local list: Miami Beach, Brickell, Sunny Isles, Fort Lauderdale. Finally, we have done ‘best floor plan reviews’ which reveals what we consider to be the best floor plan.
2. Why work with David Siddons to buy your pre-construction unit
As an independent analyst who has researched, studied, reported and MOST importantly helped hundreds of buyers purchase new construction and resale Condos for over 15 years. I am available to help, partner and guide you to the best units without bias. Holding ‘super-broker’ status within the real estate community, I am one of the few agents to be hired as a consultant on the development and marketing of no less than four luxury projects over the past five years.
I understand intimately the process, strategies and legalities of new construction, and have an insiders understanding of how they work, advertise, market, legally operate and sell – both the good and bad! My experience and connections allows me to navigate my way to direct dialogue with the developer on your behalf. Advising, protecting and executing luxury pre-construction condo deals at the best prices and withe the best terms for my clients. My advanced softwares allows me to provide clear understanding of new and resale value history to client.
My top 10 New Construction Condo Rankings enable buyers to see how any new Condo stacks up against the competition throughout Miami, and my understanding of project specifics and statistics is unmatched. Want to know more? Call me for an impartial chat at (305) 508.0899 and let me openly and freely share my knowledge with you. You can also email me: [email protected] or register on the calendly app for a zoom call.
3. Dangers of buying a New Construction Condo without ‘quality’ representation
Many buyers find themselves shopping around new construction on their own. Worse yet, I have seen buyers find themselves on a ‘building’ page, believing they are working with the developer to find its a third party who misinforms, misquotes or just downright lies about the facts of a project.
I am going to give you 10 reasons below of factors that we protect our clients from.
- Floor plans being subject to change
- Developers not being able to deliver a project on time.
- Inexperienced developers making promises of finishes that are impossible to deliver.
- Value Engineering of a project to save money.
- Obstructions from other news buildings being built in the area.
- Fake Groundbreakings.
- Not gaining full exposure to the true number of units available.
- Not negotiating the best price.
- Misinformation of elements such as ceiling heights, services, costs, park and environmental factors.
- False valuations of HOA Fees impossible to sustain.
NEVER Buy These 10 Types of Miami New Construction Condos
4. Is it a good time to buy a New Condo in Miami or should you wait?
This questions revolves around the more granular question; ‘Will New Condo Construction prices go up in 2024?’ From our interview with economic experts and off the back of our 2023 luxury Condo report which looked at the market performance of Q1 and Q2 2023 we expect the Condo market to rise again. In the last year inventory for resale condos have dried up and resale condo prices have risen as a result by as much as 20%. The new condo market has only shifted slightly up but we expect a significant jump in 2024 especially in light of all the ‘ground breakings’ that are due to happen.
5. How do we analyze the Buildings effectively?
Within our essential blog articles on new construction projects we can get hyper granular with line-by-line analysis and specific unit valuation. We can do this with our advanced software tool Condo Geeks as well as the most recent market statistics. This will open your peripheral understanding of unit values with cross-referenced values of units against other new units and sales records of recent condo unit sales. We consider the uniqueness, legitimate concerns, services, views, location. Viability of delivery dates and more.
6. The Complexities of Analyzing Miami New Construction Condos
No two condos are ever the same! Luxury Condos like luxury homes are also completely unique. Underneath are detailed articles that provide independent reviews of the most desired luxury condos. We provide an analytical and unbiased opinion on the good and the bad. The advanced software Condo Geeks is worthy of your exploratory time. This tool has an analysis of the Miami Condo market over the last 15 years and can help you effectively compare NEW condo prices against EXISTING individual or group Condo prices.
READ THE LATEST CONDO NEWS
7. Understanding the Neighborhood locations of the Miami New Construction Condos
Location is everything, and even though you may understand a neighborhood there are some subtle nuisances and factors to consider. What are the elevations of the buildings around them? How elevated are the neighborhoods, and the buildings above sea level? What projects and other developments are happening around the project that could positively or negatively impact your purchase? The developers are unlikely to talk about some of these, especially if it does not suit them! Here is one example: People often consider ‘walkability’ around new condos. They view and understand Beachfront condos from the street but don’t consider it from the other side. More frequently, Beachfront condo owners will use bikes and electric bikes to go grab a coffee. The beach walk and boardwalk are much prettier and safer than being on the street. So ‘Bike ability’ is actually functionally valuable in many condos!
Neighborhood performance is also something we study closely. The ability of Coconut Grove to remain stable and appreciate so well, when other markets have done the opposite has a lot to do with the profile of its Condo owners. Primary and long-term owners with a low amount of renters have made this market extremely bulletproof.
8. Keeping updated on New Construction Condos in Miami
We update the page regularly with new videos, images, and information on the progress of projects as they happen. As always, please call me directly for a one-on-one conversation about the New Construction Condo market in Miami. Our 15 years of experience selling new condos make us the ideal partner when choosing the right product, both in terms of lifestyle and economics. Don’t forget that you can click the side ‘video library’ link, which will reveal videos on all the projects.
9. Overall Miami Real Estate Trends and New Condo Trends – Is it the right time to buy?
Unsurprisingly language about buying a new construction condo can seem somewhat sycophantic! As we take the role of a group who plays the ‘long game’ we will not try and sell you a new Construction Condo just because you ask about it. There are certainly some condos we like but equally, there are some that we will steer you clear of! Even if this means that you don’t buy anything at all. We would rather keep your business long-term and greatly value our reputation as exceptional agents. Additionally, we will never expect you to take a blind leap of faith. Our data and analytical skills are good enough that we can give you the confidence to make the right decision without having to blindly trust us.
We have been studying the Miami real estate trends for over a decade and have produced over 100 reports! When you do this, you learn in detail not just what the demographic likes but what does well and why. Furthermore, over a long enough period, you see patterns emerging, and the observation of changes in the micro and macro markets helps us predict and forecast the future success or failure of a project. History does not necessarily repeat itself, but it definitely rhymes!
10. Questions and Answers We try to answer them all…
If you don’t find the answers to what you want above please send us an email or call us. We try and answer as many questions as possible and will add to these every month as we see the need. To ask a question or discuss a project call me at (305) 508.0899 Or email me directly at [email protected].
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